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SMART Sheet Metal Workers' Local #10
The Sheet Metal Local 10 Supplemental Retirement Fund was established in 1973 to serve members of the sponsoring union. It operates as a multiemployer defined...
SMART Sheet Metal Workers' Local #10
The Sheet Metal Local 10 Supplemental Retirement Fund was established in 1973 to serve members of the sponsoring union. It operates as a multiemployer defined contribution plan governed by a board of trustees drawn from labor and employer representatives. The fund targets a diversified allocation that includes 50 percent equities, 25 percent bonds, 10 percent absolute return, 10 percent real estate and 5 percent real return strategies. Confirmed holdings include limited partnership interests in Tricon Residential, Crescent Capital Group, Bain Capital Credit, Lexington Partners and American Realty Advisors. Geographic exposure centers on the United States with additional positions in Canada. The fund reported $513 million in assets. It maintains two owned facilities in the Maplewood and White Bear Lake area of Minnesota. June 2024: The related union attended Trades Night at Target Field as part of member programming. Governance ties the fund directly to Sheet Metal Workers Local 10 through trustee appointments and collective bargaining agreements that determine employer contributions.
General information
Firm type
Pension Fund
Year founded
1973
Location
Region
North America
Country
United States
City
Maplewood
Corporate office
1681 East Cope Avenue Suite A, Maplewood, MN 55109, United States
Principals
Michael Mitchell
Chairman of the Board of Trustees
James Bigham
Secretary of the Board of Trustees
Matthew Fairbanks
President/Business Manager and Trustee
Sector focus
Frequently asked questions
Who runs investment decisions at SMART Sheet Metal Workers' Local #10?
A board of trustees including Chairman Michael Mitchell, Secretary James Bigham and labor representative Matthew Fairbanks oversees the fund. Day-to-day administration is handled by Wilson-McShane Corporation.
Does SMART Sheet Metal Workers' Local #10 participate in fund commitments or only direct deals?
The fund commits to external vehicles including limited partnerships with Crescent Capital Group, Bain Capital Credit and Lexington Partners.
What asset classes does SMART Sheet Metal Workers' Local #10 hold?
Holdings include public equities, bonds, real estate through the SMW 10 Core Fund, common and collective trusts, pooled separate accounts and partnership interests.
Where does the underlying wealth come from?
Contributions flow from collective bargaining agreements between Sheet Metal Workers Local 10 and contributing employers represented by SMARCA, Inc.
How is SMART Sheet Metal Workers' Local #10 related to its parent union?
Sheet Metal Workers Local 10 sponsors and governs the fund. The local maintains affiliation with the international SMART union and the AFL-CIO.
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